Notes to SEFA
Title: General
Accounting Policies: Basis of Accounting
The accompanying schedules of expenditures of federal and state awards are presented using the accrual basis of accounting which is described in Note 2 to the financial statements. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Pass-through entity identifying numbers have been presented where available. Child and Family Resources has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: Child and Family Resources has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The accompanying schedules of expenditures of federal and state awards present the activity of all federal and state financial assistance programs of Child and Family Resources, Inc. The information in these schedules is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance) and the New Jersey State Circular 15-08-OMB, Single Audit Policy for Recipients of Federal Grants, State Grants and State Aid. Therefore, some amounts presented in these schedules may differ from amounts presented in, or used in the preparation of the basic financial statements. All federal and state financial assistance received directly from federal and state agencies is included on the schedules of federal and state awards. Because the schedules present only a selected portion of the operations of Child and Family Resources, Inc, it’s not intended to and does not present the financial position, changes in net assets, or cash flows of Child and Family Resources, Inc.
Title: Basis of Accounting
Accounting Policies: Basis of Accounting
The accompanying schedules of expenditures of federal and state awards are presented using the accrual basis of accounting which is described in Note 2 to the financial statements. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Pass-through entity identifying numbers have been presented where available. Child and Family Resources has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: Child and Family Resources has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The accompanying schedules of expenditures of federal and state awards are presented using the accrual basis of accounting which is described in Note 2 to the financial statements. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Pass-through entity identifying numbers have been presented where available. Child and Family Resources has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Title: Relationship to Federal and State Financial Reports
Accounting Policies: Basis of Accounting
The accompanying schedules of expenditures of federal and state awards are presented using the accrual basis of accounting which is described in Note 2 to the financial statements. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Pass-through entity identifying numbers have been presented where available. Child and Family Resources has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: Child and Family Resources has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Amounts reported in the accompanying schedules agree with the amounts reported in the related federal and state financial reports.
Title: Single Audit
Accounting Policies: Basis of Accounting
The accompanying schedules of expenditures of federal and state awards are presented using the accrual basis of accounting which is described in Note 2 to the financial statements. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Pass-through entity identifying numbers have been presented where available. Child and Family Resources has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: Child and Family Resources has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Dollar threshold used to distinguish between Type A and Type B programs is $750,000. Single Audit requirement is $750,000.